Ian remains a tropical storm with winds of 50 mph, but the storm system is expected to rapidly intensify on Sunday as it moves over warm waters in the Caribbean Sea, according to the National Hurricane Center.

The seawater currently carries very favorable conditions for strengthening over the coming days, with temperatures between 85 and 90 degrees Fahrenheit -- the perfect temperatures for fueling a powerful storm as it stays over open water.

Ian is expected to strengthen to a hurricane by Sunday night and into a major hurricane later Monday night as it passes by Cuba.

The NHC currently forecasts Ian to strengthen into a major Category 4 hurricane on Tuesday in the Gulf of Mexico as it heads toward Florida.

Ian is expected to make landfall on the west coast or the panhandle of Florida on Wednesday or Thursday.

Some weakening could occur before the storm system makes landfall, possibly dipping below major hurricane status before impacting coastal communities.

A hurricane warning is currently in effect for the western portion of Cuba, where flooding rains and major storm surge are forecast.

-ABC News' Riley Winch